Required information se the following information for the Exercises below. (The

Question

Required information se the following information for the Exercises below. (The following information applies to the questions displayed below.) The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 25,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. The) beginning inventory cost of $60,100 consisted of $44,800 of direct materials costs and $15.300 of conversion costs During the month, the forming department started 300,000 units. At the end of the month, the forming department had 30,000 units in ending inventory, 80% complete as to materials and 30% complete as to conversion. Units completed in the forming department are transferred to the painting department Cost information for the forming depertment is as follows Beginning work in process inventory Direct naterials added during the month Conversion added during the month $ 60,100 1,231,200 896,700 Exercise 16-6 Weighted average: Cost per EUP and costs assigned to output LO C2 Calculate the equivalent units of production for the forming department Direct Materials Conversion 319,000 2. Calculate the costs per equivalent unit of production for the forming department Direct per Conversion 912.00.00 3. Using the weighted-average method, assign costs to the forming department's output-specifically, its units transferred to painting and its ending work in process inventory

Explanation / Answer

1. Equivalent units of production

2.

3.

Units to account for: Beginning work in process 25000 Units started this period 300000 Total units to account for 325000 Total units accounted for: Units completed and transferred out 295000 Ending work in process 30000 Total units accounted for 325000

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